The retailing sector because of its unique characteristics and its environment is in great need of information. This need is greater as the risk is greater. Small retailers are facing greater risks and, therefore, their need for information is also great. Retail Information Management Systems (RIMS) is an answer to information needs and risk management. RIMS has an internal and an external component. The internal component is composed of six separate information units. RIMS produces three different outputs, standard reports, answers to specific questions and special assessment and evaluation.
In attempting to develop market segments for retail establishments, a Segmentation Index can be used effectively. This is a tool constructed by using a number of subjective and objective criteria in order to determine socio-economic status of the existing customers of an on going concern. Segmentation Index is an important guide for marketing strategy development. In addition to its uses to identify the market segments and loyal versus casual customers, Segmentation Index displays an important relationship to Store Image. By developing congruence between Segmentation Index and Store Image the firm can improve its probability of survival and prosperity in its niche in the marketplace.
This paper presents a short case study of the introduction of a new automobile in a small town. It analyses the characteristics and the role of innovators in the diffusion process. The analyses have shown that innovators with opinion leadership qualities have influenced the people whom they have contacted. This influence, however, is modified in turn by the opinion leadership characteristics of these individuals. Analyses have indicated that communicating with innovators directly and cultivating their opinion leadership function is likely to be more effective advertising policy than somewhat aimless mass communication.
An inductive approach is presented in this paper. This approach involves the following stages: The detailed discussion of a study which attempted to identify different market segments to which four separate retail establishments have been catering; the construction of what is termed a segmentation Index; the analysis of universality of the segmentation Index ; and finally the construction of a logical flow model as a guideline for development of a segmentation Index. The largest section of this paper which is the detailed discussion of an empirical study is based on an analysis of the characteristics of typical customers of four retail stores in buying wall-to-wall carpeting. The present article offers a brief discussion of the criteria that can be used for segmentation, the findings of a field study are presented, and finally, an attempt is made to measure the segments on the basis of an index and to focus upon the role of segmentation in the struggle for survival.